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Nairaland Forum / Nairaland / General / Politics / Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' (22827 Views)
Dangote Refinery, A Business Inspiration To Private Sector Operators - Tinubu / Gbajabiamila’s ‘outburst’ Against Chinda, A Threat To Democracy —PDP / 'I Have Developed Interest In Oil Industry' — Buhari (2) (3) (4)
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Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Reflect7: 7:08am On Jan 28, 2022 |
ufotunang: Bros, they have to build it well nah.....be patient. ![]() |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Blackdisciple(m): 7:09am On Jan 28, 2022 |
It's nothing , Ghanians can build theirs |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Reflect7: 7:10am On Jan 28, 2022 |
lumidee2580: YOU DON'T KNOW THAT. You are just assuming based on what may have happened elsewhere. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by sojayy(m): 7:11am On Jan 28, 2022 |
helinues:Oil comes with corruption, hence, d result |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by tolue42(m): 7:15am On Jan 28, 2022 |
jaxxy: You may not see the benefits because most Nigerians are just bunch of illiterates....that's the plain truth. 1, Dangote will sell raw materials to local companies (which they mostly get abroad before ) Giving local companies lives. 2, Dangote will sell finished products to Nigerians (no 250billion naira per month on subsidy by government to importers again). Cutting dollars spending abroad to import finished products by marketers. 3, There's power plants inside the refinery, the whole of South west can be powered with electricity from that refinery through gas (Dangote selling Electricity) 4.Dangote will export finished products , bringing Forex (hard currencies) back to Nigeria. The more you have foregn currencies in your country, the more your local currency will be growing ..... Have you ever wonder why most middle East countries currencies are higher than dollars , pounds, Euros etc? It's because they have those foregn currencies in serculation even more than their local currency. So the bottom line is, Naira will be growing and that will translate to our economy growing ... Those are just little of what the Refinery will bring to Nigeria. It will change things positively forever! 6 Likes 1 Share |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Reflect7: 7:15am On Jan 28, 2022 |
Giant Dangote Oil Refinery Begins Production in 3rd Quarter - Dangote refinery plans to process 540,000 barrels a day - Refinery capacity to meet Nigeria’s domestic fuel need Bloomberg https://www.bloomberg.com/news/articles/2022-01-22/giant-dangote-oil-refinery-to-begin-production-in-third-quarter Nigeria’s giant new Dangote oil refinery will start processing crude in the third quarter of this year. Mechanical work on the refinery is complete and “hopefully before the end of third quarter we should be in the market,” Aliko Dangote, chairman of Dangote Industries Limited, said in a briefing at the plant site in Lagos. The plant will start with a processing capacity of 540,000 barrels a day, Dangote said. “Full production can start maybe, by the end of the year or beginning of 2023,” he said. The facility, which will cost an estimated $19 billion to build, has an installed capacity of 650,000 barrels per day. Its output will be more than enough to meet Nigeria’s fuel demands and turn Africa’s largest crude producer into an exporter of refined crude. Dangote, Africa’s richest man, addressed reporters along with Akinwumi Adesina, president of the African Development Bank, which previously provided $300 million loan in support of the project. The AfDB head and Dangote discussed possible collaboration to expand the billionaire’s businesses to more African countries to take advantage of the free trade area agreement, according to Adesina. They also talked about setting up an industrial manufacturing corps on the continent made up of the engineers that built the refinery. This will ensure that the skills gained can be shared with other countries in Africa and outside the continent. Dangote, originally a cement tycoon, is worth $20.4 billion, according to the Bloomberg Billionaires Index. 2 Likes |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by winterfell007(m): 7:17am On Jan 28, 2022 |
Dapinski: She has done everything wrong and deserves all the insults and more she’s getting. We are happy about a refinery (a dirty technology) as the saviour of Nigeria’s economy. I can relate with the forex it might save for us, but all in all, it’s a dirty investment in this period of energy transition 1 Like |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Reflect7: 7:19am On Jan 28, 2022 |
winterfell007: Transition doesn't mean ''stop building entirely''. THE UK is building a 20 billion dollar nuclear power plant as we speak, despite all her noises about clean energy. 2 Likes |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by VEHINTOLAR: 7:26am On Jan 28, 2022 |
Reflect7: May God bless you for this . |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by NGpatriot: 7:32am On Jan 28, 2022 |
jaxxy: The cheap petrol you are enjoying today is an expensive bait and switch commodity that you and your children will pay for in the form of debt. Robbing Peter to pay paul is you getting cheap petrol today and paying for it decades to come. Trillions of Naira in subsidies is not free lunch, it's an expensive debt trap and an unrealistic sense of comfort. 3 Likes 1 Share |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by AgentGoat: 7:33am On Jan 28, 2022 |
Na everything wey we dey do here dey always affect una. Even our bowel movements. 1 Like |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Nobody: 7:37am On Jan 28, 2022 |
winterfell007: You have a valid point in that the refinery comes at a time most countries are moving aways from fossil fuel in pursuit of 'cleaner' fuel. Yet, most Countries are not sitting on the oil and gas deposit Nigeria is blessed with. Strategically and operationally, it makes sense, even if oil will be worthless in 20-30 years, for Nigeria to be best placed to control processes, start to finish, so we get maximum socio-economic benefit from our crude endowment. If this refinery has a 'shelf life' of even 20 years, to circa 2042, then it would have improved Nigeria's socio-economic development massively before then. Think about it. We have massive deposit of oil and gas. The world still uses both actively for industrialization today. We either continue importing and subsidizing refined derivative of crude (PMS), when that is detrimental to our economy, or we take the view that we should become active and important players in controlling, utilising and profiting from our crude and gas endowment for as long as they remain in demand. Government, over decades, has not been able to make this happen so kudos to Dangote if he can. 1 Like |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by NGpatriot: 7:38am On Jan 28, 2022 |
jaxxy: The 40,000 Nigerians currently employed benefits every month when they collect their paycheck, pay their rent, pay school fees and put food on the table, but such benefits are hard for you to see from your hateful, bitter and illiterate vantage point.. 7 Likes 1 Share |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by klas(m): 7:40am On Jan 28, 2022 |
jaxxy: The bolded part is an uninformed view of how subsidy works which is common among the so-called educated Nigerians. Sellers don't benefit from subsidy. It is the final consumption that is being subsidised. If you are spare parts seller and you already computed the selling price of your goods based on landing cost and projected profit. If a customer walks in but can only afford to pay 60% of your price, what will you do? You will turn him away for sure. What if a good samaritian offer to pay you the balance of the 40% on behalf of the poor customer? Have you benefited beyond what you would have gained if you sell to another customer that is able to afford your price? Sure no. The samaritian has only subsidised the customer, not you. Same with refineries. Currently, fuel marketers pay the foreign refineries fully before lifting products to Nigeria. The headache of subsidy is between the marketers, consumers and Nigerian government, not that of refineries. 3 Likes |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by jaxxy(m): 7:43am On Jan 28, 2022 |
tolue42: All ur point are not accurate and u know it. U can only bamboozle illiterates. Stop peddling lies., Did dangote tell u he willl be dealing in naira or dollars for crude?? I’m talking about the refinery’s effect on the major by products not the negligible ones which the price drops if any will be hardly noticeable on the economy. I’m not sure the dollar is up because of importation of lesser by products and raw materials. It might make construction less expensive bt it might not even be noticeable. Until we know what the pump price will be we are still beating about the bush. I don’t know about the power plant bt will he be selling power cheaper than what obtainable is the question if not it’s only to his benefit this hype is about. U can see the uncertainties urself. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Philistine(m): 7:47am On Jan 28, 2022 |
Acidosis:What you called criticism and insults is actually envy and jealousy, and most of it comes from a particular region of the country that does not want to see anything good coming out from other regions. 4 Likes |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by jaxxy(m): 7:47am On Jan 28, 2022 |
NGpatriot: That is nice bt for a mega refinery in Africa don’t u think we should get more that just that?? Shouldn’t it reflect on the economy in a more direct way?? This is not hate bt simple reasonable deduction and expectations. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by 9gerian: 7:53am On Jan 28, 2022 |
EOD! CSTRR: |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by tolue42(m): 7:55am On Jan 28, 2022 |
jaxxy: So for Dangote to sell finished products to other countries, he will trade in Naira? That's not possible you know. Dangote will buy crude oil in Naira from Nigeria government, we don't need to beat around the bush on that. By the way I'm talking about the positive ganeral effect on NIGERIA as a whole.. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by jaxxy(m): 7:55am On Jan 28, 2022 |
klas: Seems Ure confused. Subsidy benefits the sellers cos it’s their profits being paid to them bt government due to the reduced price they are selling to us. Without subsidy they will be at loss. We benefit also having to pay less for fuel. Bt now dangote refinery is here and he still wants to deal in dollars and international rates the fuel price will be exactly thesame without subsidy and will yet again require subsidy or we pay higher rates like it will be if subsidy is removed 2day. Unless dangote is a dealing in naira and local rates like an NNPC refinery then we can have some hope of cheaper fuel and a better economy. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by tolue42(m): 8:13am On Jan 28, 2022 |
jaxxy: Another angle is, alot of fraud are being perpetrated between the government officials and the marketers. Declaring inflated figures of import products in collaboration with corrupt officials. The funniest part is most of the goods are being transported to neighboring countries (subsidized by NIGERIA ooo). Cameroon had to shut down their refinery because of cheap products coming from us 2 Likes |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by rhythyson: 8:45am On Jan 28, 2022 |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by quickly: 8:52am On Jan 28, 2022 |
Starlight252: Giant of africa my ass . Nigerians give themselves title to feel good but what does it rally mean Who is the giant of Europe,Asia or America |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by jaxxy(m): 9:03am On Jan 28, 2022 |
tolue42: Exactly, the corruption In ensuring the products are actually purchased and delivered and then supplied to the right customers . Another set of issues. I do hope dangote refinery can change and correct the wrongs in our oil and gas sector not multiply it. 1 Like |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by preciousmetals: 9:54am On Jan 28, 2022 |
That is the mark of envy, there is envy in the DNA of most Ghanaians Coldie: 3 Likes |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by klas(m): 10:12am On Jan 28, 2022 |
jaxxy: You are really confused. Even with a layman example of spare parts dealer that I gave, you still couldn't comprehend how subsidy work. If the landing cost of petrol at the Nigerian port is N282 per litre, at that stage, the refiners had already been paid fully by the importing marketers and subsidy is not yet involved. After clearing and adding other domestic costs and marketers profit margin, the price comes to around N340. In the absence of subsidy, the marketers will sell directly to the consumers at that price. In the subsidy regime, the government and the consumer split the N340 between themselves and pay the marketers. Still the marketers collect N340, no more, no less. Subsidy benefits the consumers (who pay less than the market price while government balance up), not the marketers, talkless the refineries. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Invitationn: 10:36am On Jan 28, 2022 |
Acidosis:Time never reach. Just chill ![]() 1 Like |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by jaxxy(m): 10:40am On Jan 28, 2022 |
klas: Don’t the marketers make their profits?? Didn’t say subsidy doesn’t benefit the masses bt it robs the government who are paying for the subsidy and that in turn affected how government funds other projects. That’s why I said fuel should be cheap unless l dangote still uses his international rates and dollar equivalent for makerters. Meaning only some logistics and clearing costs will be deducted. The end of the day the price will be higher than 165 we currently have bt less than 340. |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by OldSkoolHeadBoy: 10:41am On Jan 28, 2022 |
Eleribu, has Innoson made cars that are affordable to Nigerians ? femicyrus: |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by femicyrus(m): 10:46am On Jan 28, 2022 |
Reflect7:And they told you all those savings by Nigeria will have impact on you personally? Or the vacancy you talked about will be given to you as a nobody? |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by femicyrus(m): 10:52am On Jan 28, 2022 |
OldSkoolHeadBoy:I hope you've now resumed for duty as a truck driver with your HND at dangote refinery? Innoson is not milking Nigerians through the FG like dangote. Ensure you complete your medication b4 vomiting on public space |
Re: Kwaku Boateng: Dangote Refinery ''A Threat To Ghana's Oil Industry'' by Abdulmumin412(m): 11:02am On Jan 28, 2022 |
rhythyson:Avo adai ete odahi Pls who are u? |
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